Labour ministers are now IFA's

[milly]

Labour ministers will soon be able to mandate Defined Contribution Pensions to invest up to 10% into their hare-brained schemes.
No doubt these clowns will look to implement this into other types of scheme as the Socialists become more desperate for cash.

[NWpostie]

I would consider that a conflict of interest.

[milly]

I would consider that a conflict of interest.

No doubt Labour Party donors and friends and family of the Labour Party will benefit greatly from this scam.
They've absolutely no shame.

[Tman]

I'm sure some friend of the "edge of the precipice" Starmer will be along to explain how and why you're wrong very shortly.

[milly]

I'm sure some friend of the "edge of the precipice" Starmer will be along to explain how and why you're wrong very shortly.

Labour voters seem to have disappeared, they're all Zack Polanski fans nowadays.
Labour just weren't crazy enough for them.

[Tman]

I remember in the dying days of Boris the Buffoon's gov't the endless multiple daily critical and satirical posts and memes from the likes of "Postmanbitesdog" "Baldrick" and many more. Jonathan Pie and all that over-wrought nonsense.
Starmer's bunch of no-hopers should give any amateur comedian (and amateur political commentator) a lot of material to work with....I wonder where they all are now and why they're so quiet?
Maybe they have all gone to the "I can make your t*ts bigger" party?

[RobertT]

If you ignore the political stuff and the over the top newspaper headlines and look at what is actually happening:

There's currently legislation going through Parliament, which if passed will mandate some DC pension funds to invest up to 10% of assets in specific assets, aiming to boost economic growth.

1. The legislation isn't set in stone yet, although realistically it probably will be in due course.
2. It will only apply to default funds of workplace DC schemes. So anyone wanting to make their own choices to avoid this, will be able to.
3. If you're in a DC scheme with only default funds, there is the option to transfer out.
4. In terms of RM, it's only members of the RMDCP that might be affected. I believe when the transfer to L&G takes place, all members will be put into a default fund, so it'll be up to them to move their money to another fund/s if they want to.

I don't agree with any pension fund being forced to invest in what a politician says. But if you look over the scaremongering headlines, it shouldn't really be a major issue for most people willing to take the time to understand.

[milly]

If you ignore the political stuff and the over the top newspaper headlines and look at what is actually happening:

There's currently legislation going through Parliament, which if passed will mandate some DC pension funds to invest up to 10% of assets in specific assets, aiming to boost economic growth.

1. The legislation isn't set in stone yet, although realistically it probably will be in due course.
2. It will only apply to default funds of workplace DC schemes. So anyone wanting to make their own choices to avoid this, will be able to.
3. If you're in a DC scheme with only default funds, there is the option to transfer out.
4. In terms of RM, it's only members of the RMDCP that might be affected. I believe when the transfer to L&G takes place, all members will be put into a default fund, so it'll be up to them to move their money to another fund/s if they want to.

I don't agree with any pension fund being forced to invest in what a politician says. But if you look over the scaremongering headlines, it shouldn't really be a major issue for most people willing to take the time to understand.

This is just the start, I'm sure they'll try to expand this scam to other types of pension.
The Government has no money and Socialism is expensive.
They're already stealing saved labour via fiscal drag and inflation.
Hopefully they won't have enough time to inflict more pain on the average worker before they're booted out of office.

[heapsy]

Being forced to invest in the UK could be a disaster. Not one tech company in the top 100. There's not a lot worth investing in.

[milly]

Being forced to invest in the UK could be a disaster. Not one tech company in the top 100. There's not a lot worth investing in.

It's worse than that, the government is proposing investment in unlisted companies which are risky and illiquid.
It's basically another wealth transfer to the parasite class, the pensioners will pick up the tab and the people connected to the government will make money win or lose.

[Hyrrokkin]

If you ignore the political stuff and the over the top newspaper headlines and look at what is actually happening:

There's currently legislation going through Parliament, which if passed will mandate some DC pension funds to invest up to 10% of assets in specific assets, aiming to boost economic growth.

1. The legislation isn't set in stone yet, although realistically it probably will be in due course.
2. It will only apply to default funds of workplace DC schemes. So anyone wanting to make their own choices to avoid this, will be able to.
3. If you're in a DC scheme with only default funds, there is the option to transfer out.
4. In terms of RM, it's only members of the RMDCP that might be affected. I believe when the transfer to L&G takes place, all members will be put into a default fund, so it'll be up to them to move their money to another fund/s if they want to.

I don't agree with any pension fund being forced to invest in what a politician says. But if you look over the scaremongering headlines, it shouldn't really be a major issue for most people willing to take the time to understand.

Thanks as usual RobertT for giving us the actual facts....

[milly]

If you ignore the political stuff and the over the top newspaper headlines and look at what is actually happening:

There's currently legislation going through Parliament, which if passed will mandate some DC pension funds to invest up to 10% of assets in specific assets, aiming to boost economic growth.

1. The legislation isn't set in stone yet, although realistically it probably will be in due course.
2. It will only apply to default funds of workplace DC schemes. So anyone wanting to make their own choices to avoid this, will be able to.
3. If you're in a DC scheme with only default funds, there is the option to transfer out.
4. In terms of RM, it's only members of the RMDCP that might be affected. I believe when the transfer to L&G takes place, all members will be put into a default fund, so it'll be up to them to move their money to another fund/s if they want to.

I don't agree with any pension fund being forced to invest in what a politician says. But if you look over the scaremongering headlines, it shouldn't really be a major issue for most people willing to take the time to understand.

Thanks as usual RobertT for giving us the actual facts....

I gave you the facts at the top of the thread.

[Hyrrokkin]

If you ignore the political stuff and the over the top newspaper headlines and look at what is actually happening:

There's currently legislation going through Parliament, which if passed will mandate some DC pension funds to invest up to 10% of assets in specific assets, aiming to boost economic growth.

1. The legislation isn't set in stone yet, although realistically it probably will be in due course.
2. It will only apply to default funds of workplace DC schemes. So anyone wanting to make their own choices to avoid this, will be able to.
3. If you're in a DC scheme with only default funds, there is the option to transfer out.
4. In terms of RM, it's only members of the RMDCP that might be affected. I believe when the transfer to L&G takes place, all members will be put into a default fund, so it'll be up to them to move their money to another fund/s if they want to.

I don't agree with any pension fund being forced to invest in what a politician says. But if you look over the scaremongering headlines, it shouldn't really be a major issue for most people willing to take the time to understand.

Thanks as usual RobertT for giving us the actual facts....

I gave you the facts at the top of the thread.

No you gave us clickbait headline comments with added hyperbole and political grandstanding with no substance or actual facts to back it up.

Which of course you are entitled to do - it's cool.

[milly]

If you ignore the political stuff and the over the top newspaper headlines and look at what is actually happening:

There's currently legislation going through Parliament, which if passed will mandate some DC pension funds to invest up to 10% of assets in specific assets, aiming to boost economic growth.

1. The legislation isn't set in stone yet, although realistically it probably will be in due course.
2. It will only apply to default funds of workplace DC schemes. So anyone wanting to make their own choices to avoid this, will be able to.
3. If you're in a DC scheme with only default funds, there is the option to transfer out.
4. In terms of RM, it's only members of the RMDCP that might be affected. I believe when the transfer to L&G takes place, all members will be put into a default fund, so it'll be up to them to move their money to another fund/s if they want to.

I don't agree with any pension fund being forced to invest in what a politician says. But if you look over the scaremongering headlines, it shouldn't really be a major issue for most people willing to take the time to understand.

Thanks as usual RobertT for giving us the actual facts....

I gave you the facts at the top of the thread.

No you gave us clickbait headline comments with added hyperbole and political grandstanding with no substance or actual facts to back it up.

Which of course you are entitled to do - it's cool.

Which parts of what I wrote were untrue?
Will the government be able to mandate defined contribution pensions to invest up to 10% into investments of the government's choosing when the legislation passes, yes or no?
Do you also believe that the grasping Labour government won't roll it out to other types of pensions?

[RobertT]

If anyone's interested in what's going on in Parliament on this, there's an update here:
https://www.pensionsage.com/pa/Lords-re ... hanges.php